@properties Christie’s International Real Estate has released the findings of a new survey focused on brokerage technology.

“Builders are entering 2022 with backlogs that they are having a hard time completing due to material and labor shortages, and new-home prices are sitting near a historic high.” — First American Deputy Chief Economist Odeta Kushi

While rising interest rates may lead to more reductions in the housing supply, it may also bring some much-needed balance to the market.

Mortgage applications fell more than 13% in the most-recent week tracked by the Mortgage Bankers Association’s Market Composite Index, while interest rates continued to rise. 

Nationwide, there are 481 million-dollar cities on Zillow’s list, meaning towns with a typical home value of $1 million or more.

“Production disruptions are so severe that many builders are waiting months to receive cabinets, garage doors, countertops and appliances.” — NAHB Chairman Jerry Konter 

In Saguache, Colorado, a monument to the Old West is for sale. Dubbed Old Cow Town, the property is a frontier replica, complete with a luxury lodge.

The sales pace of existing homes surged 6.7% in January after falling in December, as buyers got off the fence and went shopping ahead of rising interest rates, the National Association of Realtors reported.

A Seattle household earning the median annual salary of $104,900 would need to spend 36.37% of that salary to afford the median-priced home of $679,000.

Seattle’s new mayor made clear this week that housing and issues that affect home values will be major pieces of his administration. 

Single-family housing starts fell 5.6% from December’s revised estimate to 1,116,000, while multifamily starts slid 2.1% to 510,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.

January foreclosure filings were the highest since the start of the pandemic, according to a new report. 

The average contract interest rate for 30-year fixed-rate mortgages backed by the Federal Housing Administration increased to 3.93% from 3.86%, the Mortgage Bankers Association said. 

Across the country, 10% of ZIP codes with the largest share of children had an average home value growth of 21.3% from October 2020 to October 2021.

Pathway Homes was formed by ResiLabs, a partnership between real estate private equity investor Regis Group, single-family rental landlord Invitation Homes Inc. and venture-capital firm Fifth Wall. 

A converted church in South Central Kansas city of Winfield, is for sale, offering a unique sanctuary to potential buyers.